The Bank Use Promotion & Suppression of Money Laundering Unit (the Financial Intelligence Unit) was established in 2004 in terms of section 3 of the Bank Use Promotion and Suppression of Money Laundering Act [Chapter 24:24].

The Unit exists as a Unit of the Reserve Bank of Zimbabwe, but has its own governing statutes, giving it a mandate distinct from that of the central bank.

The Unit is the main AML/CFT regulator, but works in close cooperation with supervisory /regulatory bodies of the various types of designated reporting institutions to ensure that the regulated entities comply with their AML/CFT obligations. The Unit also works with relevant stakeholders, in ensuring the investigation, prosecution, conviction of criminal offenders, and confiscation of recovered assets or funds.